GM to double Brazil investment through 2018
SAO PAULO, July 28 (Reuters) - General Motors Co plans to double its investment in Brazil to 13 billion reais ($3.8 billion) through 2018 and introduce a new family of vehicles into the country, executives at the U.S. carmaker said on Tuesday.
Speaking at a press conference in Sao Paulo, Jaime Ardila, the head of GM in South America, said the company's investment in Brazil would be aimed at developing new technologies and products, not in increasing capacity.
Earlier on Tuesday, GM announced it will invest $5 billion over the next several years to develop with its Chinese partner a new family of Chevrolet vehicles aimed at fast-growing emerging markets.
($1 = 3.42 Brazilian reais)
(Reporting by Brad Haynes)
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